Monthly Spotlight

Singaporeans say Yes to Cashless

3 in 4 Singaporeans believe that Singapore will be a cashless society by 2030

Singaporeans are already largely aware of and have adopted digital payment methods, with 76% finding it likely that Singapore will be a cashless country by 2030.

In recent years, Singapore has taken huge steps towards a future of cashless payments in its bid to become a Smart Nation.

Just last month in July, seven banks across the country jointly introduced PayNow, a new fund transfer option that just requires a NRIC or mobile number. Retailers are also coming on board with FairPrice launching Singapore’s first unmanned cashless convenience store.

Singapore’s public transport network is also set to go fully cashless by 2020, with all bus and train rides to be paid using travel cards and top-ups performed without physical cash.

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